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tv   MONEY With Melissa Francis  FOX Business  October 9, 2012 12:00am-1:00am EDT

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i believe in american exceptional list of. i have lived overseas. i love this country. liz: fox business is on top of the presidential debate the vice presidential debate in kentucky and october who kno. we'll be here to talk about them. see you tomorrow. melissa: i'm melissa francis and here's what's "money" tonight. california gas prices shatter a record, soaring as high as $5.65 a gallon, even creating a free-for-all for gas thieves. all thanks to government regulation. how much worse can it get? >> while iran is still trying to control its currency crisis its offshore oil platforms are reportedly under cyberattack. is the regime running out of time? are electric cars actually bad for the environment? specifically, twice as bad as traditional cars? a shocking new study says
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they may not be so green after all. even when they say it's not, it is always about money melissa: let's take a look at the day's market headlines. investors staying cautious before tomorrow's earnings season kickoff with alcoa. summit between eu finance ministers brought modest declines to stocks. stocks closed down 26 poin. shares of apple fell more than 2%. there are report that is a weekend strike broke out at a foxconn factory in china, a major a sembler in china. foxconn is denying the report. they have had major problems. netflix shares surged more than 10% on the news closing at highest price since july. our top story tonight, gas prices in california
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hitting another all-time high. now they have reached a record breaking $4.67 an average but some stations are charging close to 7 bucks. now get this. police are dealing with gas thieves stealing from stations. is there any end in sight? fox news's adam housley is live in los angeles with more. adam, what is going on out there in california? >> yeah, you mentioned the gas thieves. that is actually been a report that has been picked up over the last few days. we've heard of people having their gas siphoned out of gas tanks. that happens every once in a while but numbers seem to picked up a bit. in roseville, california, up by sacramento, number of gas stolen from stations. stations reported it wasn't taken but someone tried to. in a shell station, they drove up with a pickup truck and 300 gallon in tank in the back and found a way to
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disable the pump and filled up the tank several times. 1,000 gallons stolen from a station in roseville, california. while peopleould not agree with stealing we found one driver who said she can understand. >> i can definitely see people doing that. >> i just spent almost $70. this will only last knee a week, so. i could definitely see the motivation there. >> not sure about seeing the motivation there, but i'll tell you this if you do get caught you will be spending some time in jail, that's for sure. $1,000 or 1,000 gallons, of gas, melissa is now a lot of money. melissa: wow! that's insane. how angry is the average driver? how hard is it on them? are they driving up and down the street looking for the best deals? or do you waste too much gas doing that? >> yeah, you're not going to drive up and down the street too much because, a, it will be pretty expensive but, b, think about it. this time last year, gas was
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86 cents a gallon cheaper than it is today. even if there is some relief in sight, it will still be considerably more than they paid last year. that is lot of money for a lot of people filling up gas tanks that they didn't pay last year that they will have to give up this year, s prices at station behind me, $4.99 for a regular gallon of gas. go down the street a bit you will find mid 5s. 4.66 is average. most drivers in l.a. would love to find a station that low. melissa: adam, when you talk to drivers, who do they blame? >> a lot of people listen to what the media says and goes crazy with whole idea that it is gas company asphalt or gas station's fault. a lot of people blame the whole situation in cafornia. environmental regulation involved as well as issue a couple of refineries going down. add to it the gas stations and oil companies. so kind of like a blame game on everybody. they don't single out one and go through the whole list. you know what? they're all at fault and i'm paying a lot of money.
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melissa: they're just mad. adam, thanks for your report. my next guest is at ground zero of the california gas crisis. sam kerkorian is a gas station owner fr city. sam, thanks foru're angry about this. you probably heard our last of people blame gas station owners. is that the thing i don't like. always gas station people getting blame he says gas stati, price is gouging that is true but not all of us. i mean because we got quotas what it is costing us how much making a profit and how much is killing us. some of the gas stations yes, are taking advantage out of this situation and they jacking up their prices. but like me now, i have to compete with ao across the street from me, almost same price me and arco. difference of seven cents a gallon. melissa: are you making money or losing money in the environment. >> tell you the truth i'm making money but it is not
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enough. i'm making two or three cents a gallon. melissa: how much do you have to make in order to cover your costs? >> like 15 cents a gallon. melissa: do you see prices going higher from here or lower? what are your wholesalers telling you as you gout there trying to get gas. >> i'm getting good news it will get lower but when, i don't know, possibly maybe tomorrow or next week or the end of the month. melissa: are you seeing shortages? are you able to get as much product as you want? >> not exactly. still i have to call a day or two days ahead of time to make the delivery. melissa: the news today is they're talking about switching over to that winter blend which normally happens october 31st. the governor wants to do it earlier. how would that impact your situation? would it help. >> this situation will be much better because the price is goingown a little bit. but maybe the first week i will be a tough week again because they're going to blame we don't have enough fuel for you. not like rationing but we'll get less. melissa: sam, who's fault is all this? is this the government's fault with all the stringent
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standards for the environment or who do you blame? >> i say three parties. the environmental people, the government and the oil company. melissa: you blame the oil company too? why is it their fault? >> i blame the oil companies too, like i said first time, they don't want to build any refineries. like, refineries being sold by arco, nobody wants to buy it. nobody wants to take care of it. that will hurt especially in l.a.. melissa: sam, thanks so much for joining us. i'm sure we'll check in with you again. thank you for the update. >> thank you. >> how long will the california gas price crisis last? let's ask john kingston, global director with platts. i want to pick up on the last point he said. we've gone through the blame game. we asked reporter who the drivers are blaming. th are blaming gas station owner. we asked him. he is blaming government regulation and oil refineries who don't want to own the refineries. why don't they own the refineries? >> you're down to two u.s. companies fully integrate
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produce at the wellhead and refine. exxon and mobil. everybody else gotten out of it, even though dealing with oil, operatingupstream company looking for oil around the world and refining it are two different situations. it is difference between a farm and bakery. you don't expect farms to run bakeries. >> refineries are not a great business. you can't control the price of what your oil is going to be. there is all sorts of government regulation. he blames the oil companies for not wanting to own a refinery. blame the government for making it too hard. >> actually right now forget california and rest of the country, owning a remeanry is pretty big business. melissa: what about in the northeast? you're getting oil from euro. >> there it is not good. in the middle of the country it is great. it is all over the map. they could have fabulous year one year and terrible year the next. a lot of major oil companies like conocophillips and marathon, they decided we don't want to do this. they hired the refining
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operatio into separate arms. they're acting like independent refiners. marathon bought the texas city plant from bp. bp is slowly getting out of the u.s. refining business. it will be in the future politically how will you blame big oil for gasoline prices if they don't refine a single barrel of it. melissa: you're so smart. you've been in the industry forever. you've been doing it as long as i've been following it of the you've been at the top. who do you blame in this situation? tell me the truth. >> i hate to put one blame. melissa: come on. >> california lost a lot of refining c much as mr. krikorian seems to relate. i looked at oil through put, it is not as down as much as from the peak that is factor. melissa: okay. >> californi no doubt about its they have got this special blend of gasoline and they made it very difficult for anybody to bring more material in. plus they're geographically isolated. what you have to watch out for they are now in the first steps of what they call the low carbon fuel
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standard, which right now is not a particularly onerous regulation. however, almost everybody who is looking at this is saying by 2015, this is going to be an onerous regulation. melissa: this will get worse in california? >> i don't know about worse as today but for refiners it will get more difficult because they're supposed to blend more biofuels which don't exist. a lot of california crude oils they're relying on will have a high rating what is called carbon intensety. 2015 is the time for --. melissa: standards killing drivers in california the reason everyone is out there suffering right now you're saying it will get worse by 2015? the standards are getting even higher. they're blending in these things we've done stories here on "money" that do not exist, these biofuels. >> let's say something about the government, okay? two years ago in initiative pushed primarily by valero, tesoro, two big indepdent refiners there was initiative on november
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ballot to delay the implementation of ab-32 which is the big green house gas regulation. voters of california turned that down by pretty large margin. voters have said we want ab-32. they will get it. can't blame this on ab-32. you can't. this could be even though has nothing to do with the low carbon fuel standard, talking about two or three years, this is a big regulation that will start to bite on this industry. it will be very interesting. melissa: we followed from the entire train to the beginning of end. at end of the day drivers you have only yourself to blame because you didn't vote for this or didn't go out to stop it. >> [inaudible]. melissa: john kingston, we answered the question. i don't know if you like the question. we have another question of the day for you. how much will gas prices affect your choice at the polls next month? we want to hear what you think. like us on facebook.co facebook.com/melissafrancisfox or follow me on twitter atmel list is a a france --
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at melissaafrancis. first up solar city is filing for a initial public offering. the solar panel installment company is looking to raise $201 million. despite posting a $30.1 llion operating loss in the first six months of 2012. expiration of geothermal energy under oregon's largest volcano is moving headed. the testing phase should be complete i had about 2014. has estimated cost of $43.8 million, with half of its fund coming from, the department of energy of course. marathon petroleum is buying an infamous refinery, we were talking about this, from bp. marathon will pay a base price of $598 million for the texas city oil refinery. you remember that name because there was a big explosion at the plant in 05 and it killed 15 woers. the purchase price is reportedly well below the amount bp was aiming for.
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oil prices slid on global demand fears as the world bank cut its economic growth estimates for china and the asian continent. crude settled down 89.33 a barrel. look at that under 90 bucks. iran launch as major crack down to control its currency crisis. its off shore oil platforms reportedly being hit by cyber attacks. is this the beginning of the end for that regime? we have details on that coming up next. plus hugo chavez wins re-election. a clam down on venezuelan oil production could be around the corner. is the u.s. to blame? we'll explain all of that. m.o. "money" coming up ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪
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♪ . melissa: we've been telling you about the chaos in iran which led to riots last week over urge currency devaluations. some reports cite about a 40% loss just since late september. now the government is trying to set a fixed dollar rte on the rial to stop the runaway inflation. good luck with that and to calm its citizens down. can it work and is it enough to keep the regime stable?
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let's turn to the mike barrett, from consulting firm, diligent innovations. welcome to the show, mike. we were having a hard time making our charts for this, getting an accurate exchange rate. thery ya'll is tanking so fasano -- rial. do you think it will work? >> it can work for a period of time because the regime has a lot of assets but over time the international pressure will be too much. we're playing a game of chicken because the issue obviously with iran is whether israel will strike them based on their nuclear program. iran is trying to play out the clock and prop themselves up just long enough we get into a military crisis. then they will be hopefully from their point of view get back into the global economy. melissa: so we get into a military crisis with them? how do you see this playing out to their benefit? >> basically what they're trying to do is create a sense among the global community, right, united nations, you've got 200
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countries. they're trying to create a sisism that puts the u.s. and israel on one side and europe staying neutral because of their own economic woes and some other countries like africa and innesia, staying out of the issues or being on the iranian side in terms of it their sovereignty? >> is it working? >> unfortunately we don't have a lot of good polesy options. sanctions are having an impact on iran. they're cratering the currency. what we're hoping for though it rarely works this way, you will have the people of the country rise up and demand their government changes the course of action. almost it never works. melissa: how close are we to that? i had the discussion with numerous people on the show last week. the opinions are all over the map whether this is a crisis would tumble the current regime or is it not as big of a deal as it looks like from the outside? >> i would tell you right now it is unfortunately as big of a deal as it is, right? we look through our image.
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you talked about a couple of segments of $5 gas. this is equivalent ever doubling gas prices overnight, halfing your currency. while we were not demand and demand some kind of ahange that is not how the other companies operate. you have a real intersection of nationalism and religious fervor. when they come together they will with stand a unbelievable amount of economic pain as they deal with their country and their god. i think we're vastly overestimating the amount of economic pain and how much economic pain will influence the democracy. melissa: others came on the show and said we're not necessarily better off if the regime tum else bells. we seen that in the past and hoping for a regime to be overthrown and replaced by someone worse than their predecessors. is there a chance we would be in a worse position? >> absolutely there is. the reality most likely it is you would see again the centers of power there, will be a lot like what we saw in the arab spring. people who are young and
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democratic in their inclination. they will not necessarily be able to gain power after the revolution. that's what we saw in egypt and throughout the whole area. what you end up existing power centers have a chance to do the power grab. it was the muslim brotherhood in egypt. in iran it will probably be the theology. melissa: in the meantime are we getting even closer to a nuclear capable iran? >> we are. they're playing out the clock on that. you saw this weekend that the israelis had to shoot down a drone flying oaf their airspace. most of us believe that was iranian drone perhaps launched by hezbollah out of lebanon. yeah, this is definitely getting worse. melissa: what is the best possible outcome over here? what what should we be doing? >> unfortunately we don't have good policies. there is not a good option out there. the best of the bad options is put dramatic pressure on the economy and hope that springs something loose. that basically makes the regime say, fine we will not pursue nuclear weapons but we want some other tradeoff
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to re-establish ourselves as a regional power and nonnuclear. that is the best we can hope for. melissa: quarter oil revenue is down by 15 billion. running low on currency reserves. it has some impact. thanks for coming on the show. appreciate it. come back soon. >> thanks, melissa. melissa: hugo chavez declares victory in venezuela's presidential election if we see lower oil production as a result, is it actually our fault? think about that one. we have details coming up next. why a new study that says electric cars may actually be toxic for the environment. we'll explain that coming up. do you ever have too much money? ♪
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♪ . melissa: it was billed as
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the biggest challenge to hugo chavez's 14 year rule but he won another six years as president of venezuela in yesterday's elections. so much for that. what does his grip on power mean for the country's state oil company? and are we bound to see even less oil production than there is now? with me now is the former venezuelan congressman. we have michael economides, professor at university of houston. gentlemen, thanks for joining us. michael, we spoke on friday. he won again. was it free and fair? what do you think? >> populism works i you have money. melissa: okay, what does that mean? >> well it means that he can buy the election. i mean he's aided by basically unmitigated cash flow of oiley. you can either borrow or pay for populism is a theme proposed in the last year or so. and argentina is borrowing kind. chavez is the paying kind.
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melissa: yeah. leopold, i don't know, i was there a couple years ago and the country is falling down around his ankles. i mean, can you really buy votes in a country where i see a lot of people living in pretty miserable conditions? >> there are enormous problems in venezuela. the economy, the safety of the citizens, public services. all of those remain important issues and that is why melissa, the opposition grew so much in this election. it is not only united but he was able to get 6 1/2 million votes, casted for him in a situation where not only money and the petrol state play a role, it is also the communication powerhouse the government has in his hand. let me just give you a number that sin credible. 47 hours of mandatory transmissions of presidential speeches that both private and public mode
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yaw had to comply with. in terms of coverage, i have the numbers here. 180 hours of media coverage for the president and his campaign. melissa: yeah. >> against 27 hours for caprillas. it is difficult. it is not equalibrium there that you have to fight against. melissa: i don't know, i was there for an opec meeting and saudis said, they would not be happy repeating this, when chavez is talking he goes on and on and on. he never stops. that what you just said. that really get you votes or does it bore the audience to death? do you think this was a free and fair election? >> there might be people that get bored but a lot of people that listen. the importance here that the other message doesn't gt across. i mean it is, how do you get enough exposure? caprillas did incredible journey. he visited house by house, more than half million
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people. he went to 300 municipalities in a country of 335 municipalities and knobbed on doors. he campaigned in every state. but that had only, that little media coverage, 27 hours against, 180 hours for the government. melissa: it's nothing. i hear you. michael, you're the one who thinks this is actually bad for oil production in the long run because basically it doesn't behoove him to have more oil on the market right? explain that to us. >> well, absolutely. he is a $100 oil. the 100 dal oil is a thousand pound gorilla. at $70 oil he is reduced to monkey. he will do everything in his power to maintain that including reducing production. he has done everything in his power to do that. you realize venezuela produces less oil today than the first nationalization in the '70s. the whole state of affairs is a disaster. and so we really need to
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take a very hard look. the way i think to get after chavez is to increase resources of oil in the united states. he brags about his relationships with iran and cuba and so on but realize his trade with the united states is still 95% of his trade. therefore if we find alternative oil supplies like hint, hint, the keystone pipeline in the united states, then that will have a direct impact on chavez. melissa: leopold, let me ask you to react to that. do you think that, you're a former politician in the country. would that make a big difference? >> i don't agree with anything that has to engage in unilateral actions or sanctions or anything that is threatening to the venezuelan --. melissa: no, but just that we produce more oil and we had more of our own oil and wouldn't need his and make him less powerful? >> i think it is good for u.s. to produce more oil and
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venezuela should plows more oil. the chinese are, you know, the demanding a lot of that resource and in fact, if you look at the venezuelan structure right now, a significant part of venezuela's oil production is pledged. future production for payment or for repayment of the chinese financing facility with the government which amounts to more than $40 billion. so, what the venezuelans would like to see is, venezuela producing more oil. melissa: yeah. >> it's the demanding on the venz ven ann government they engage in a policy that will do the investment and increase our oil capacity and become also a supplier in the world that is reliable. melissa: i hear you. we've got to run, guys. thanks, great discussion. we appreciate your time. >> thank you. melissa: a new study is pouring cold water on the idea that electric cars are more environmentally friendly. in fact green vehicles may not be doing any favors for the environment. that's coming up next. plus miami heat vps here
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exclusively to the playbook. is the real answer to the jobs come back, self-employment? "piles of money" on the other side of this break. ♪ . think it's weird to collect air? you wouldn't think so if you saw what your lungs collect every time you breathe. protect your health with life-saving air quality updates from the american lung association. get our free "state of the air" app at lung.org.
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♪ . melissa: so the past few years there's been a huge push for electric cars. the obama administration in particular is a huge advocate for the industry, you know that, putting millions of our dollars into gm's volt. the battery operated cars are supposed to be better for the environment and sieve drivers money on gas, right? but a new study turns that completely on its head, saying electric vehicles can actually double the environmental damage than regular old cars. seems like consumers may have been getting the wrong information all wrong. here to disagree with me the director of public citizen's energy program, tyson
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slocombe. thanks for coming back to the show. this is all based on the norwegian university science and technology new study. you know those norwegians are very tidy. they don't want to pollute the environment. but they say global warming, potential of electric vehicle production is twice that of conventional vehicles is basically twice as bad is what they're trying to say. and number one, they say that in studies in the past they didn't consider the impact of charging the battery. that the generating of the electricity to charge the battery if it comes from a coal plant, comes from a nuclear plant, you're kind of defeating the purpose of having a cleaner vehicle because you used this other dirty way to make the electricity. what do you say? >> well, that would be true if the majority of our electricity was still coming from coal but we've had some radical changes in the electric generation sector in the united states over the last couple of years. driven primarily by steadily declining natural gas prices. as a result, for the first time in american history, we
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are generating more of our electricity today from natural gas than from coal. natural gas is almost 2/3 cleaner than burning coal in terms of greenhouse gas emissions. so as long as the local portfolio of electricity that you're using to charge up that vehicle is coming from either regular power which has issues with --. melissa: are you proi fracking for natural gas? do you like that. >> well, no, we're concerned about some of environmentality issues. melissa: that all the cheap natural gas, we're switching to natural gas because like you said the price has fallen so dramatically because of fracking. all the environmentalists out there in favor of these electric vehicles hate fracking. well you're saying it is the natural gas that's the way it makes them not being be a drag on the environment. >> well, i mean, we just want to see high drawlic fracturing done responsibly. i think that involves a greater degree of federal regulation. we don't want to have a bp
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deepwater horizon for fracking and contaminate aquifer and drinking supplies like we did with the gulf of mexico. we have to have better regulations. >> okay. >> melissa, bottom line best thing would do charge up the car from solar panels to do that. melissa: there isn't enough sun in the world to go out and drive to be a productive economy. they said there is only limited benefit to achieve from electricity to natural gas. to that point they also said in the past they failed to account for the impact of making the components. that it takes, another way that you get to this doubling of the damage on the environment is because it uses so much more energy and there is so much more emissions to make all the components that go into an electric vehic, versus gas burning vehicle. what do you say to that? >> yeah, there is no question there are some dirty toxic elements and come points that go into making the electric drive trains and particularly the batteries. but the fact is, is that when you're filling up your
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gas tank, especially at over $4 a gallon every week, you are constantly using a dirty fuel to run your automobile the whereas, with an electric vehicle you might have that up front dirty elements to create the drivetrain and the components but if you're having a low emission or zero emission electricity source for that electric car it will be better. melissa: i'm glad you mentioned that. another one of their point electric vehicles have a shorter life span. you have to get a whole new car after 100,000 miles as opposed to gas vehicles that underminds that last point. >> i'm not sure. especially as you look at increasing gasoline prices and look how toxic gasoline emissions can be i think that there is no question there are huge advantages to electrifying the transportation sector and having more electric vehicles out there. melissa: yeah. >> i do think there are emissions and environmental benefits. melissa: they said the production of materials cause problems for recycling though. there is more problems with
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recycling the stuff from electric vehicles than from traditional cars. >> well i do think that we don't have a robust program to recycle batteries and so forth because we don't have a robust market presence. i think as we expand market presence of electric vehicles, we're going to have a larger industry to service those industries and recycle those issues. melissa: tyson, you're a good sport and good opponent. i appreciate your time. >> always my pleasure, melissa. melissa: a growing number of americans are creating jobs for themselves. e-mail. i want to know. one of the miami heat's vps will tell me if that is winning strategy for recovery. at the end of the dave it is all about money. come on, disagree with me. rachel quit the corporate grind to start her own interior design business. she's got a growing list of clients she keeps in touch with using e-mail marketing from constantcontact.com. constantcontact is easy and affordable.
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♪ . melissa: so the jobs numbers on friday left a lot of questions out there, namely why there was such a big gap between the household survey which showed total enployment rose by 873,000 jobs and why the payroll survey added only 114,000 jobs? we have been wondering all along, what about those extra 759,000 people, if they're working, why aren't they showing up in the payrolls anywhere?
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at least some must be going into business for themselves selfs like eve wright taylor did. vice president of the miami heat. but she is also a small business owner and here in a fox business exclusive to share what she sees as the playbook for success. ever since i heard these numbers, i've been thinking in this economy you can't wait for someone to create a job for you any longer or find a job especially if you're out of work for a while. you have to take fate in your own hand and start your own business. that is something you and your husband did. >> we're fortunate. we were not out of work at all. he is a physician. i'm a lawyer. so we earn a pretty good living. melissa: how did you have time to create a business. >> time, who thinks about that? but we really saw that there was a niche here and, for us it is always about opportunity, creating opportunities, developing opportunities out your ideas or your passions because that's where you're the most committed to. that is one thing i tell the people. when they're changing jobs
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situations. melissa: yeah. >> start figuring out what you like to do and figure out how to develop it. melissa: how did you identify this opportunity? you said there was a real need. how did you figure that out and what is it? >> absolutely. i dismissed my husband initially. melissa: we all do. that's normal. >> we commute between atlanta and miami. in atlanta there was a rash of kick-in burglaries. we have a security system, the cameras and alarm system but those are very reactionary. somebody will kick in our doors. nobody is going to kick in our doors. no, really. he had a couple patients with domestic violence issues. he said no, we need to do this. we fashion ad interior security bar with designers so it looked nice inside your house but prevented people from kicking in. had a unique locking system. got a patent on it and started selling this year. melissa: you saw a rash of something going on in your community you thought i would make a business around this. what about something you don't know b it is easy to
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identify a niche. i don't know anything about manufacturing, marketing how do you figure it out. >> that was totally us. melissa: how did you dot? >> you are expertise was not in manufacturing and marketing. i started doing research. i started talking to people i know about it, that have different expertise, marketing manufacturing and those sort of things. we teamed up. you know somebody who knows how to do something else you're not an expert in. we started to talking all about it. melissa: the bottom liline you're taking a big rsk. at some point you had to put your money where your mouth was and make an investment and bet on yourself. how do you get that courage? >> so, the second piece of behind the opportunity spot something calculated risk-taking. i think you can skydive, but can't skydive twice without a parachute. what for us that meant we still had to keep our full-time jobs. we put savings toward it. and siphon money each and every month until we dedicate to the business and we start a parameter when it
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should start making money for us and when it shouldn't and how we grow it. melissa: you were blessed and lucky to have an income in the meantime. a lot of what we're talking about here, people who are structurally unemployed, whose jobs disappeared may not be coming back, rather than waiting for a job t appear they're trying to create something for themselves. >> this is where those folks fit in the gap here. the folks that we work with helped us, didn't have a ton of money to dedicate to those folks. they are friends who were laid off. the guy who works with us working on a wheel sale piece. melissa: yeah. >> is a friend and sales executive was laid off. now represents a few different products. he represents ours as well. so each and every person, we don't have any full-time employees but we have these relationships wi people where they work with us on a part-time basis to kind of fill the gaps figuring out what they need to do next or what they want to do next. and then, moving on from there. melissa: i think you just explained to us where some of this 759,000 people who
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said they were working and earning some money and wasn't necessarily full-time and not showing up on the payrolls. they're doing stuff like this. thank you for enlightening to us. inspirational. >> thank you for having me. melissa: this is a tough turn here. it is the pole dance from hell. how a wild bachelor party is leading to a major lawsuit for one strip club. you're a lawyer. this fits after awe, right? no. you can never have too much money, we'll be right back. ♪
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melissa: is time for a little fun with spare change. joined by sandra smith and democratic strategist and fox is contributor croissant. thanks for coming gun. warm you up. the music mogul and the brooklyn native supplies is fellow new yorkers by straphanging to his last concert at park city and. he took the are trained on saturday around 6:00 p.m. he chatted with a woman sitting next to him. what do you guys think? >> love this. i wish more rap stars would learn from this. a great example. and i think from a marketing perspective it shows that he is in tune with his fans. [talking over each other] >> surrounded by security. you know he to colombo home. >> probably running late.
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the place is surrounded by subway stops, and it is hard to get to if you are not blocking traffic, so it might have been -- melissa: he has so much money he could chopper and. maybe he chopper. well, speaking of subways, looking for a way tech save extra cash. new york city could be setting the example by allowing full frontal adds to cover their metro cars. i have one here. take advantage of the back of the card. it offers the 20% discount. a great strategy to raise revenue? you know, does the credibility suffered? know where on here -- first of all, it really does not even say it is a metro card. basically just says go to the gap and you can have 20 percent of. >> whatever it takes. going a prolonged time. it keeps them down. had that it.
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advertising on my sleeve. i'm all for it. melissa: whoever it takes. >> a kenwood for the criticism if we do continue to see rates go up and. but if someone can save a couple of bucks and nothing disserts anybody. >> based on where it was purchased. advertise for near there. it's pretty clever marketing. all right. next to my this is what you have been waiting for. melissa: talk about a bachelor party gone bad. him in the hospital. now he is suing. claims that the dancers slowing down the straw poll and landed them with such force that it ruptured his bladder. it gets worse, believe it or not. this was the groom. it was his bets the party. he had to have surgery and is now suing for $50,000 in medical costs, pain, humiliation, and
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mental anguish. seriously? how do you, but that number? not hat it's high or low. i don't know. >> you know what first came to my mind? because of the wedding. 50,000 is the average cost. >> as bad as the injury, his wife beat the crap but him money at home, so it's probably a lot worse. >> i'm sure the father of the bride was proud to walk his baby girl down the aisle to thisman. >> i could see my wife. melissa: who believes that story? hopi his video of the stripper sliding double and rupturing his bladder. i feel like something happened after at. i don't know what, but the story sounds fishy. >> i was in pain whenever the story. it's a visual. >> i hope he had fun before she landed on him. >> getting married. melissa: extreme experienced skydiver attempting to break the
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world record for the fastest freefall. he could be the first to break the sound barrier. he will be written with cameras. streamed live on the internet. the description, he could die doing this. even more so than when your normally skydiving. >> he can't be more dead. >> that's true. even more things that could kill him, not just the ground. his life's to collapse. melissa: i'm not afraid to say this. you are sick if you sit down and watch this. you are going -- you're watching the busy think that he's going to die. >> the guy will do great, have a great free fall. the issue will open. >> that's not the foreshore. >> if that he will mechanize big hole. -- if not, he will make a

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